Google Wallet Expands with New Feature for Managing Kids' Finances

Google has expanded its Wallet service to include a feature for managing money for children. The new addition allows parents to set up balances, monitor purchases, and transfer funds to supervised accounts connected to their profiles.

The tool also includes features such as purchase notifications and daily spending limits, which can be set by account managers. In the event of a lost or stolen device, parents can completely lock down payment options or enact 'spending timeouts' using Google's Family Link parental controls.

Kid and teen users can use Android and Wear OS devices to make tap-to-pay transactions anywhere Google Pay is accepted.